Illinois Senate Bill 3670

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Creates the Uniform Money Transmission Modernization Act. Provides that the provisions supersede the Transmitters of Money Act. Sets forth provisions concerning money transmission licenses; acquisition of control; reporting and records; authorized delegates; timely transmission, refunds, and disclosures; prudential standards; and enforcement. Repeals the Transmitters of Money Act. Makes other changes. Effective immediately, except the repeal of the Transmitters of Money Act is effective January 1, 2026.

FINANCIAL REGULATION-VARIOUS

Sen. Laura Ellman [D]

Sen. Ann Gillespie [D]

Sen. Napoleon Harris [D]

Date	Chamber	Action
2024-05-03	Senate	Rule 3-9(a) / Re-referred to Assignments
2024-04-19	Senate	Rule 2-10 Committee Deadline Established As May 3, 2024
2024-04-12	Senate	Rule 2-10 Third Reading Deadline Established As May 3, 2024
2024-04-05	Senate	Rule 2-10 Committee Deadline Established As April 19, 2024
2024-03-22	Senate	Postponed - Executive
2024-03-21	Senate	Added as Co-Sponsor Sen. Napoleon Harris, III
2024-03-15	Senate	Rule 2-10 Committee Deadline Established As April 5, 2024
2024-03-08	Senate	Added as Chief Co-Sponsor Sen. Ann Gillespie
2024-02-28	Senate	Assigned to Executive
2024-02-09	Senate	Referred to Assignments
2024-02-09	Senate	First Reading
2024-02-09	Senate	Filed with Secretary by Sen. Laura Ellman

Chapter	Article	Section	Citation Type	Statute Text
205	657	Act	Repealed Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3670&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB3670.htm